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Posted by Admin on July, 31, 2026
Insurance Agents Β· Marine & Air Cargo Specialists
Insurance Agents
CargoCover Advisory is an authorized ICICI Lombard insurance agency, specializing in marine and air cargo cover for exporters, importers, CHAs, freight forwarders and logistics companies across India.
Agent vs Broker
Insurance Agent vs Insurance Broker β What's the Difference?
Both help you buy insurance, but they sit on different sides of the transaction. Knowing which one you're actually talking to changes what you should expect from them.
Represents one insurer
An insurance agent is authorized by a specific insurer β in our case, ICICI Lombard β and structures policies from that insurer's products. Agents tend to know that insurer's wording, exclusions, and claims process in depth.
Represents you, across insurers
An insurance broker can place your cover with any insurer and compare terms across several. Brokers trade breadth for depth β useful if you want quotes compared, less useful if you want a specialist who knows one insurer's cargo wording cold.
What We Do
What CargoCover Advisory Does as Your Insurance Agent
We don't sell every kind of insurance β we specialize in one thing: marine and air cargo cover for Indian exporters and importers. That focus is what lets us structure a policy properly instead of treating cargo insurance as one more product on a long list.
Right cover, right value
110% CIF invoice value, correct Institute Cargo Clause, and the extensions your specific commodity and route actually need.
Shipment-wise, on time
Every consignment declared against your Open Cover before it sails or flies, so cover is active from day one, not backdated.
Filed and followed through
Survey coordination, documentation, and direct follow-up with the insurer until your claim is settled.
Policy Types
Types of Marine Insurance Policies We Structure
There is no single "marine insurance policy" β the right structure depends on how often you ship, and whether it's one voyage or an ongoing trade. Here's what CargoCover Advisory offers, in plain terms.
Open Cover (Annual Open Policy)
A standing policy for exporters and importers who ship regularly. Every consignment is automatically covered the moment it moves, then declared against the policy afterward β no waiting on a certificate before each sailing or flight.
Specific / Voyage Policy
Covers a single shipment, one voyage or one flight, port-to-port or door-to-door. The right fit for a one-off export order or an occasional shipper without a running Open Cover.
Floating Policy
Written for a fixed aggregate sum insured that reduces as shipments are declared against it, until the sum is exhausted or renewed. Useful for traders and consolidators declaring multiple part-shipments over a season.
Time Policy
Covers a fixed period β commonly 12 months β irrespective of the number of voyages. More typical for hull/vessel cover, occasionally used alongside cargo policies for continuous inland or warehouse risk.
Levels of Cover: Institute Cargo Clauses A, B and C in Plain English
Every marine policy is written against one of three standard clause sets, which decide what perils are actually covered β this is separate from the policy type above.
ICC A β All Risks
Covers loss or damage from any external cause, unless specifically excluded. CargoCover's default base of cover on every policy we structure.
ICC B β Named Perils, Broader
Covers a defined list of perils including fire, sinking, and washing overboard, but not general mishandling or theft.
ICC C β Named Perils, Minimum
The narrowest standard cover, often the CIF-contract minimum β excludes theft, pilferage, and water damage, among others.
Add-Ons & Extensions
Add-On Covers We Build Into Your Policy
Two of these β War and SRCC β are standard on every CargoCover policy at no extra step. The rest are added based on your commodity, route, and Incoterm.
War Clause (Cargo)
Covers loss from war, hostilities, and related perils during transit β standard on every CargoCover policy.
SRCC β Strikes, Riots & Civil Commotion
Covers loss from strikes, riots, and civil unrest en route β standard on every CargoCover policy.
Warehouse-to-Warehouse Extension
Extends cover from the seller's warehouse through inland transit, port/ICD/airport handling, and ocean or air transit to the buyer's warehouse.
General Average & Salvage Charges
Covers your contribution if a General Average is declared, or salvage charges incurred to save the voyage.
Institute Replacement Clause
For machinery β covers the cost of replacing only the damaged part, not the entire unit.
Duty & Increased Value Cover
Protects the customs duty already paid or payable on cargo that arrives damaged or short-landed.
Theft, Pilferage & Non-Delivery (TPND)
Covers loss from theft, pilferage, or a package that simply never arrives at destination.
Refrigeration Breakdown Cover
For reefer cargo β covers spoilage caused by a mechanical breakdown of the refrigeration unit in transit.
Container / Package Loss Overboard
Covers cargo lost when a container or package is washed or lost overboard during the voyage.
Debris Removal
Covers the cost of removing wreck or debris of damaged cargo when required by port or customs authorities.
Institute Cargo Clauses (Air) β All Risks
The air-cargo equivalent of ICC A, covering loss or damage from any external cause during air transit.
Strike Clauses (Air Cargo)
The air-cargo equivalent of SRCC, covering strike- and riot-related loss for cargo moving by air.
Coverage Footprint
Products, Ports, ICDs, Airports, Cities & States We Cover
CargoCover Advisory structures policies for the full range of commodities India ships, moving through every major gateway in the country.
Commonly Insured Export & Import Commodities
Major Seaports
Major Air Cargo Gateways
Inland Container Depots (ICDs)
Manufacturing & Export Hubs (Cities)
States We Serve
Why CargoCover
Why Exporters Choose CargoCover Advisory as Their Insurance Agent
Authorized ICICI Lombard agent β not a broker reselling someone else's paperwork.
110% CIF & ICC A as standard β the strongest common base of cover, not an upsell.
War & SRCC built in β included from day one, never sold as an after-the-fact add-on.
Direct claims support β one point of contact from survey to settlement.
FAQs
Frequently Asked Questions
What does an insurance agent do?An insurance agent structures the right policy for your situation, arranges cover with an insurer, handles renewals and declarations, and supports you through a claim β acting as your point of contact instead of you dealing with the insurer's own process directly.
Is there a difference between an insurance agent and an insurance broker?Yes. An insurance agent is typically authorized to work with one insurer (or a small number, depending on the license), representing that insurer's products to you. An insurance broker can place your cover with multiple insurers and compare across them. CargoCover Advisory operates as an authorized agent for ICICI Lombard, specializing in marine and air cargo insurance.
Do I pay extra for using an insurance agent?No β an agent's commission is built into the insurer's standard premium, not added on top. You pay the same premium you would if you approached the insurer directly, but with an agent handling the policy structuring, declarations, and claims process for you.
Why use a specialist agent instead of buying a policy directly?A specialist agent already knows what your specific trade and cargo actually needs β the right Institute Cargo Clause, the right value to insure at, which extensions matter for your commodity and route β instead of you working through generic policy wording alone.
What is 110% CIF value in a marine insurance policy?Insuring at 110% of CIF (Cost, Insurance and Freight) invoice value is the market-standard practice for export cargo insurance in India. The extra 10% is meant to cover incidental costs such as lost anticipated profit, bank charges, or minor incidental expenses if a claim arises, not
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